Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Record the adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial

Record the adjusting entries in the general journal and post them to the ledger accounts and include narrations and dates. Then prepare the adjusted trial balance.

  1. On August 2, Paid $2200 cash for August salon rent.
  2. On August 4, Incurred $380 of advertising costs due in 20 days
  3. On August 5, Purchased salon equipment for $120
  4. On August 7, Paid for supplies (shampoos, creams, and gels) $350
  5. On August 8, received $280 for selling gels
  6. On August 12, paid $180 water bill
  7. On August 12, paid $160 for electricity bill
  8. On August 14, incurred $1050 for the businesss bank loan due in 14 days
  9. On August 16, purchased a new chair set up for $400
  10. On August 17, paid the amount due for the influencer $380 for advertising
  11. On August 19, paid $90 for my internet bill
  12. On August 21, received for $200 selling of shampoos
  13. On August 23, paid $110 for insurance
  14. On August 24, cleaner $110
  15. On August 27, paid $1050 for the businesss bank loan
  16. On August 28, gas bills $35
  17. On August 30, extra salary cost to a new trainee $400
  18. On August 30, purchased a new tv screen $600
  19. On August 30, paid $6000 in salaries for the month of August.
  20. On August 30, received $14000 from haircuts services during the month of August. And $500 of selling gels, creams, and shampoos

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Morse Hartgraves

8th Edition

1618532359, 9781618532350

More Books

Students also viewed these Accounting questions